CTM04110 | Corporation tax: relief for losses carried forward: losses incurred from 1 April 2017: amount available for carry-forward
From HM Revenue & Customs · Company Taxation Manual
to 45B
This applies when a company sustains a trade loss on or after 1 April 2017.
The amount of that loss potentially available to carry forward to the next accounting period for relief against total profits under is
the loss sustained,less
any part of that amount for which relief has been allowed under or which has been surrendered as group relief under .
Similarly, the amount of that loss potentially available to carry forward to the next accounting period for relief against profits of the same trade under is
the loss sustained,less
any part of that amount for which relief has been allowed under or or which has been surrendered as group relief under .
Although does not refer to relief allowed under S42, the effect is the same. This is because relief under S42 is only available for certain losses of an oil and gas ring-fence trade for which relief under , by carry-forward against total profits, is not available.